President Joe Biden last week slammed two senators for proposing to end Social Security and Medicare as we know it. Biden specifically renewed his attacks on Florida Governor’s Rick Scott, who has called for all government programs, including Social Security and Medicare, to be reapproved every five years. The president then ripped Wisconsin’s Governor Ron Johnson for recently proposing a vote each year to determine if Social Security and Medicare would be funded. That means if our notoriously gridlocked Congress couldn’t agree on the terms of what Social Security and Medicare should look like every five years, those programs would end as a result.
Here's a bit of history for you guys: These calls to end Social Security and Medicare as they are administered are actually not new. Democrat Franklin Roosevelt signed the Social Security program into law in 1935, and Democrat Lyndon Johnson signed Medicare into existence in 1965. The latest version of the Social Security 2100 Act was introduced by Representative John Larson from Connecticut in October. The bill has attracted broad support among Democratic House lawmakers, with 202 co-sponsors. Democrats currently have a House majority, with 221 members. Social Security has an estimated 13-year time frame when it can continue to pay full benefits. After that, in 2035, just 80% of benefits will be payable, according to a report from the program’s trustees released in June. Social Security 2100 offers one key change, aimed at resolving those funding woes: applying Social Security payroll taxes to those with higher incomes.
Currently, only wages up to $147,000 are subject to those taxes, with employees and employers each paying a rate of 6.2%, for a total of 13.4%. Now moving onto some updates regarding SNAP and P-EBT benefits. If you live in the state of Nevada, the New Mexico Human Services Department (HSD) announced today that they are informing HSD customers participating in the Supplemental Nutrition Assistance Program (SNAP) that important benefit eligibility determinations will resume in October 2022. In the state of Ohio, the USDA has adjusted the income limit requirements for the Supplemental Nutrition Assistance Program (SNAP). Beginning October 1st, 2022, Ohio’s new income limits will be put into place. If you live anywhere in the US and shop at BJ’s, BJ's Wholesale Club announced that food stamp recipients can now use their EBT card when making online purchases for all of the company's locations. The retail chain announced that EBT payments online can be made through their website BJs.com or the BJ's mobile app.